Wednesday, May 6, 2015

201200340 Do Young Kim

     It was always clear how much physical properties were worth based on their scarcity and building cost. However, the world that we live in today recognizes properties beyond material and even immaterial things such as ideas can be a property that has certain monetary value. But it is somewhat difficult to hold on to the sole ownership to such immaterial property as it can spread through the web and word of mouth without any physical borders or protection to guarantee sole ownership to its owner. Therefore, the government has established 3 laws to protect the intellectual properties from being stolen. So what kind of laws are out there to protect the ownership of these intellectual properties?  

     The first law that the government has established to protect the rights of the owners to intellectual properties is the patent law. A patent is a right granted by the government to the inventor of the intellectual property and it forbids others from making, using, selling, and importing an invention for a limited period of time in exchange for public disclosure of the invention. Essentially, this makes the intellectual property go public while its ownership and any other property rights are protected by the law. The patents usually last quite a long time. For example, it lasts 20 years in the US. This law is usually for intellectual properties that materialistic such as a new type of sneakers or a new computer design.

     The second law that protects intellectual properties is called the copyright law. Copyrights give the creator of the original work exclusive rights and it does usually last only for a limited time like patents. However, its protection lasts far beyond patents as it lasts upto 70 years after the creator's death. This means that the property will be protected during your lifetime and 70 years after your death as well. This law was established for artistic, creative, or intellectual works such as books and paintings which are materialistic but widely distributed. This law is usually utilized by artist and writers alike to protect their creative works during their lifetime and even after their death.

     The third law that protects intellectual properties is called trademarks. Trademark is essentially a recognizable sign, design, or expression which distinguishes products or services of a particular trader from the similar products or services of other traders. Simply put, this law was designed to protect the symbols or brands that distinguish your ideas from others. Trademark laws are only applicable for symbols, designs, and expressions that identify your brand and its protection lasts 10 years. Even though it has the shortest protection, it can be renewed infinite number of times as long as the traders still uses his trademark. This law is for companies and individuals who wish to maintain a unique recognition from the public.

      There are also other laws out there to protect intellectual properties and this trend will only grow and get more spread because the people are finding so many ways to just leech the creators and innovators of our time. But the 3 laws mentioned above are the most commonly used and the most effective. These laws serve as the shields to the owners and creators of our time and these laws have been established to guarantee ownership to even the immaterial properties such as ideas and thoughts. Those inventors out there should know them and utilize them in their best interest. 

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